LivingSocial Financials Exposed: $2.9 Billion Valuation, $50 Million In Revenue Per Month

There’s nothing like full disclosure during the negotiating process in an acquisition deal. LivingSocial acquired SocialMedia for just $3 million in stock, we reported earlier today. As part of the negotiating process they disclosed key financial information to SocialMedia to help that company understand the value of the stock they were receiving in the deal. That information is now in my inbox.

SociaMedia is getting around 545,000 shares of common stock of LivingSocial, valued at $3 million. That implies that there are approximately 520 million shares outstanding. At the recent Series E preferred price of $5.65 per share (which is what most people would use for valuation purposes), LivingSocial is a $2.9 billion company.

LivingSocial is no Groupon when it comes to revenue, but it’s doing just fine. February revenue was $50 million, says our source, and projected revenue for 2011 (assumed calendar) is a cool $1 billion. Our best guess on Groupon revenue in February was a little under $100 million, so it’s roughly twice the size of LivingSocial.